Nuveen LLC Takes $4.53 Million Position in Central Garden & Pet Company $CENTA

Key Points

• Nuveen LLC has acquired a significant position in Central Garden & Pet Company, purchasing 138,351 shares valued at approximately $4.53 million.
• Several institutional investors, including Westwood Holdings and Charles Schwab, have increased their stakes in the company, indicating strong institutional interest.
• Central Garden & Pet's stock is currently trading at $32.41 with a market capitalization of $2.04 billion, reflecting a modest decline of 0.9% recently.

Nuveen LLC purchased a new position in Central Garden & Pet Company (NASDAQ:CENTA - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 138,351 shares of the company's stock, valued at approximately $4,528,000. Nuveen LLC owned about 0.21% of Central Garden & Pet as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its stake in Central Garden & Pet by 53.1% in the first quarter. Nisa Investment Advisors LLC now owns 1,490 shares of the company's stock valued at $49,000 after buying an additional 517 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Central Garden & Pet in the 1st quarter valued at about $224,000. Numerai GP LLC acquired a new stake in shares of Central Garden & Pet in the 4th quarter valued at approximately $237,000. Teacher Retirement System of Texas acquired a new stake in shares of Central Garden & Pet in the 1st quarter valued at approximately $255,000. Finally, State of Wyoming boosted its stake in Central Garden & Pet by 66.6% during the 4th quarter. State of Wyoming now owns 8,914 shares of the company's stock worth $295,000 after acquiring an additional 3,563 shares during the last quarter. Institutional investors own 50.82% of the company's stock.

Central Garden & Pet Stock Up 1.3%

CENTA traded up $0.43 during trading on Monday, hitting $33.03. The company had a trading volume of 525,120 shares, compared to its average volume of 428,558. The company has a market capitalization of $2.08 billion, a PE ratio of 15.01 and a beta of 0.66. The company has a quick ratio of 2.28, a current ratio of 3.56 and a debt-to-equity ratio of 0.75. Central Garden & Pet Company has a one year low of $27.70 and a one year high of $37.35. The firm's 50-day moving average price is $33.60 and its 200 day moving average price is $32.20.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.22. The firm had revenue of $960.91 million for the quarter, compared to the consensus estimate of $993.66 million. Central Garden & Pet had a return on equity of 10.77% and a net margin of 4.44%. As a group, equities analysts expect that Central Garden & Pet Company will post 2.38 earnings per share for the current year.

Insider Buying and Selling

In other news, insider John D. Walker III sold 3,500 shares of Central Garden & Pet stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $32.59, for a total value of $114,065.00. Following the sale, the insider directly owned 67,328 shares in the company, valued at $2,194,219.52. This trade represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Ranelli sold 3,076 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $32.58, for a total transaction of $100,216.08. Following the completion of the sale, the director directly owned 1,427 shares in the company, valued at approximately $46,491.66. This represents a 68.31% decrease in their position. The disclosure for this sale can be found here. 20.28% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CENTA has been the subject of several recent analyst reports. Wall Street Zen raised shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Canaccord Genuity Group upped their price objective on shares of Central Garden & Pet from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $38.67.

Central Garden & Pet Company Profile

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on dog and cat supplies such as dog treats and chews, toys, pet beds and containment, grooming products, waste management and training pads, supplies for aquatics, small animals, reptiles and pet birds including toys, cages and habitats, bedding, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish, and small animals, as well as outdoor cushions.